Bank failure · AZ
Fidelity Bank (Scottsdale, AZ) — failed July 21, 1989
Fidelity Bank of Scottsdale, Arizona was closed on July 21, 1989 and resolved through a purchase and assumption. The Bank of Fountain Hills (AZ) took over its insured deposits. At failure it held $11.2M in assets and $11.6M in deposits. The FDIC's estimated loss on the failure is $3.5M (30.7% of assets).
- Closing date
- July 21, 1989
- FDIC certificate #
- 26270
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- The Bank of Fountain Hills
- Insurance fund
- FDIC
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